Polymarket to see more competition while Robinhood (Hood) opens predictions market
After the success of the platform based on the Crypto Polymarket Trading Venue Robinhood (Hood) Polymarket Trading Venue Robinhood (Hood) is now opening a platform’s prediction market, available through CFTC-regulated Exchange Moldi, the company said, with contracts rolling now.
The company’s prophecy hub will allow customers to bet on event results, announced by the hood in a Press release.
This is another competitor to the polymarket, the world’s largest prophecy market, which explodes in the fame last year in the middle of the United States presidential election and any number of other high-and-lower profile events. Increasing popularity has eased a severe platform analysis, which according to an NBC News review, attracts more than $ 3.6 billion in bets just for the president’s election.
Some asked the identities behind the bets and if the results on the platform could even the election result in a certain direction. Polymarket CEO Shayne Coplan’s New York City Apartment was also attacked by the FBI, who took his phone and other electronic devices.
Robinhood said it was talking to the US Commodity Futures Trading Commission (CFTC) in recent weeks.
“We believe in the power of prophecy markets and think they play an important role in the intersection of news, economy, politics, sports, and culture,” said JB Mackenzie, VP & GM of Futures and International in Robinhood.
In order to kick off the launch of the product, merchants can assess the potential upper boundary of the Fed’s target rate of Fed in May, as well as upcoming college and women’s and women’s upcoming contests, Robinhood said.
Trading app shares up 2.3% on Monday, at $ 40.17.
